Catepillar is contempalting leaving Illinois due to the recent increase in income tax. As reported at Pantagraph, Catepillar is being courted by at least 4 states for relocation. Illinois is just too expensive to conduct business in these days. States like Texas, South Dakota and Nebraska are actively eying Caterpillar.

The chairman and CEO of Peoria-based Caterpillar Inc. is raising the specter of moving the heavy equipment maker out of Illinois.

In a letter sent March 21 to Gov. Pat Quinn, Caterpillar chief executive officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.

“I want to stay here. But as the leader of this business, I have to do what’s right for Caterpillar when making decisions about where to invest,” Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield bureau. “The direction that this state is headed in is not favorable to business and I’d like to work with you to change that.”

Not only did they have to deal with this Democrat tax increase, CAT also has to absorb the effects of Obamacare and the $100 million it would cost them in one quarter.

Comments

6 Responses to “Caterpillar Thinks About Leaving Illinois Due to Income Tax Hike”

RussVet on
March 26th, 2011 10:35 pm

Those ole rich people … try to tax them and they just leave the state and later the country… thank you flop ears for losing more jobs

rightknight on
March 27th, 2011 12:52 am

ObamaCare is patently UNCONSTITUTIONAL. BTW, what
uninformed bunch of loonies is still trying to implement
it? Sworn to uphold and support the Constitution???

Reader on
March 27th, 2011 8:21 am

Caterpillar — warning — Texas is about to gut its education system. One hundred thousand teaching jobs are on the chopping block and they are thinking of lifting the class cap that could put 30-35 kids in a classroom. Think 35 five year olds in one room. Illinois may be shooting itself in the foot with taxes, but Texas is shooting itself in the foot with poor management. BTW — there are no teacher Unions in Texas. The teachers in Wisconsin are fighting to protect benefits, while teachers in Texas want to keep their jobs. Just proves people in power can screw you one way or another.